☑️EURGBP: meeting of the Bank of England

4 nov. 2021

➡️ Now all attention, after yesterday's meeting of the Fed and the decision on the interest rate, switches to the meeting of the Bank of England, the results of which will be published today. In many ways, his rate decision should have a bigger impact on the Pound than the FOMC did on the US dollar, as the UK central bank is close to raising interest rates.

Bank of England Governor Andrew Bailey and Monetary Policy Committee member Michael Saunders have suggested an immediate rate hike, but other officials want to wait for more labor market activity or evidence that inflation is more resilient than anticipated. Considering the recent increase in the RBNZ rate, the announcement of the Bank of Canada to curtail QE and the beginning of a similar procedure by the FRS, the likelihood of a rate hike by the Bank of England is very high.

Technically, a good BUY setup has been formed. It is recommended to wait until the price closes above 0.84814 (Entry Point).

🔔Proposed deal for this tool🔔:
🔵Entry Point - 0.84814
⛔️Stop Loss - 0.84682
✅Take Profit - 0.85078

Thanks for your comments and likes 👍